Development ProjectsAbove market returns from significant development pipeline.
Financial PerformanceIndustrial fundamentals remain strong, and the mark-to-market opportunity should provide support to organic NOI growth, despite temporary vacancy headwinds.
Lease And OccupancyManagement expects organic NOI will pick up in the latter half of the year as the aforementioned leases take effect, the Richmond sports complex achieves occupancy, and lease renewals and contractual rent escalations take effect.